E.ON tells EC it will sell Hungarian, Czech businesses

BBJ

Wednesday, June 26, 2019, 10:00

German energy group E.ON has offered to sell parts of its Hungarian electricity business to address European Union antitrust concerns over its bid for rival Innogy’s network and retail assets, international news wire Reuters reported, quoting the company’s chief executive.

In another concession to the EU, E.ON offered to sell Innogy’s gas and power business in the Czech Republic, E.ON CEO Johannes Teyssen said at an event in Berlin.

E.ON may also divest itself of 260,000 heating customers in Germany, as well as the operation of 32 recharging stations for electric cars along Germany’s Autobahn motorway network, Teyssen said.

The European Commission opened a full-scale investigation into E.ON’s bid for Innogy in March.

E.ON made the concessions last week, an EC filing showed, though no details were disclosed at the time, Reuters said.

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